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NAFTA
Mexico’s Senate approved a labor law overhaul Monday night aimed at ensuring workers can freely vote for their union representation and contracts. The new law requires secret-ballot union votes and proof of workers’ consent for contracts. The changes are needed to win approval of the new U.S.-Mexico-Canada trade agreement, which was negotiated to replace the...
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A stream of U.S.-bound Central American migrant caravans risks clouding the rapprochement between Mexico’s next leader and U.S. President Donald Trump, who has railed against illegal migration to energize his electoral base. Mexican President-elect Andres Manuel Lopez Obrador, a combative leftist who takes office in December, has signaled he hopes to repair bilateral ties damaged...
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Honda Motor Co is considering shifting production of its U.S.-bound Fit subcompact cars to Japan from Mexico in a few years, partly due to a new North American trade agreement, two people familiar with the deal told Reuters. Fit cars for export to the United States are now made at Honda’s auto plant in Celaya,...
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Will NAFTA 2.0 Really Boost Mexican Wages?
NAFTA is no more. The North American Free Trade Agreement has a new name — the United States-Mexico-Canada Agreement, or USMCA — and its rules have been updated and revamped. For Mexico, there’s one rule in particular that gives workers hope higher wages are coming. It says that 40 percent of a car must be...
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Former president of Mexico criticizes Trump, praises NAFTA in NU speech
Northwestern University hosted the former president of Mexico Vicente Fox Tuesday evening for the 29th annual Leopold Lecture. Fox served as president of Mexico from 2000-2006. A member of the National Action Party, he ran on a platform geared toward economic reform and ending government corruption. His election ended the 71-year reign of the Institutional...
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The United States can extend a longer line of credit to Mexico if the country faces a currency crisis, according to the terms of a new agreement signed on Wednesday that follows the two countries’ trade deal. Mexico can negotiate for up to $9 billion under a currency “swap line” with the U.S. Treasury Department,...
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An entrepreneur’s guide to Chihuahua, Mexico’s tech scene
As the world’s most populous Spanish speaking country, Mexico is well positioned to be a startup power. Since the signing of the NAFTA in 1994, Mexico’s real GDP skyrocketed has risen to $1.3 trillion , placing the country second in Latin America and 15th in the world in terms of GDP. However, historically Mexico’s economy...
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Mexico’s Poor Farmers Aren’t Expected To Benefit From New Trade Deal
After the North American Free Trade Agreement went into effect in 1994, the U.S. saw large waves of illegal immigration from Mexico as small farmers, or campesinos, found it impossible to compete with heavily subsidized U.S. agriculture industry. “They were sunk from day one,” Duncan Wood, director of the Wilson Center’s Mexico Institute, told KPBS...
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Incoming Mexican Foreign Secretary Marcelo Ebrard said on Monday that the trade agreement reached with the United States and Canada is an “opportunity to strengthen the internal market.” He spoke at a press conference along with Economy Secretary-designate Graciela Marquez, and the person named by President-elect Andres Manuel Lopez Obrador to observe the negotiations with...
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Canada was back in a revamped North American free trade deal with the United States and Mexico late Sunday after weeks of bitter, high-pressure negotiations that brushed up against a midnight deadline. In a joint statement, U.S. Trade Representative Robert Lighthizer and Canadian Foreign Affairs Minister Chrystia Freeland said the agreement “will strengthen the middle...
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Mexico to publish text of new NAFTA on Friday night
At the same time, Minister Ildefonso Guajardo is scheduled to deliver the document to the Mexican Senate, which is tasked with evaluating and deciding whether to approve the agreement. The 1994 deal underpins $1.2 trillion in annual trade between Canada , Mexico and the United States. Canadian officials say there is no rush to get...
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U.S., Mexico delay trade text for more time to land U.S.-Canada deal
WASHINGTON/MEXICO CITY (Reuters) – The United States and Mexico abruptly canceled plans to publish the text of their trade agreement on Friday to give Canada and the Trump administration more time to resolve their differences and save the North American Free Trade Agreement as a trilateral pact. Mexico’s Economy Minister Ildefonso Guajardo delivers a summary...
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Trump Wrong on Mexico’s VAT
President Donald Trump wrongly said that “nobody from this country knew” about Mexico’s value-added tax until after NAFTA was signed. A deputy U.S. trade representative at the time NAFTA was put in place said: “US policymakers, embassy officials and tax authorities were fully aware of Mexico’s VAT system.” The president also claimed that the VAT...
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No cutoff date for Canada to join NAFTA 2.0: Mexico president-elect
Mexican President-elect Andres Manuel Lopez Obrador widely known as "AMLO," has been actively involved in the negotiations to update the North American Free Trade Agreement There is no cutoff date for Canada to join the US-Mexican deal meant to replace the North American Free Trade Agreement, Mexico’s president-elect said Friday as the text was submitted...
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After two years on the job, U.S. Ambassador to Mexico Roberta Jacobson has announced that she will retire on May 5, 2018 — the latest in a growing list of career diplomats to step down under Donald Trump. Jacobson has worked in Latin America diplomacy for three decades, including in the Obama administration’s effort to...
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